UltraTech Cement Q4 net profit up 15% on cost controls
The company reported a net profit of Rs838 crore, compared with Rs726 crore in the year-ago period
Mumbai: UltraTech Cement Ltd, India’s biggest cement maker, reported a 15.4% increase in fourth-quarter profit as lower prices of imported coal partially offset an increase in other costs.
UltraTech, a part of the Aditya Birla Group, reported a net profit of ₹ 838 crore for the quarter ended 31 March, compared with ₹ 726 crore in the year-ago period. Sales increased 8% to ₹ 5,832 crore.
Optimization of fuel mix and other initiatives helped in maintaining costs almost at year-ago levels, the company said in a statement.
“Although there was some relief on account of softening in prices of imported coal, the impact was negated by the depreciation of the rupee," the company said.
UltraTech’s acquisition of the Gujarat cement unit of Jaypee Cement Corp. Ltd in September has been approved by shareholders and creditors of both the companies and also by the Bombay and Allahabad high courts, the company said. It is now awaiting final approval from the Securities and Exchange Board of India (Sebi).
The earnings were announced after the end of trading in Mumbai.
Shares of UltraTech lost 1.39% to ₹ 2170.50 on Wednesday on BSE while the exchange’s benchmark Sensex gained 0.52% to 22,876.54 points.
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